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China Trade Balance August 2020

China: Export growth continues to accelerate in August as lockdowns ease across the world

In August, exports expanded 9.5% over the same month in the previous year, following July’s 7.2% rise. Moreover, the print exceeded 7.1% expansion that market analysts had expected.

Meanwhile, imports fell 2.1% in annual terms in August. The print followed the 1.4% drop in July and contrasted the 0.1% increase that market analysts had projected.

As a result of the stronger expansion in exports, the trade surplus jumped from USD 34.7 billion in August 2019 to USD 58.9 billion in August 2020 (July 2020: USD 62.3 billion surplus). The 12-month moving sum of the trade surplus rose from USD 431 billion in July to USD 455 billion in August.

August’s solid export result reflects the gradual easing of the global lockdown as well as a favorable base effect from last year.

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